The Cigna Group (NYSE:CI) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in shares of The Cigna Group (NYSE:CI) by 44.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,400 shares of the health services provider’s stock after selling 1,133 shares during the period. Fulton Bank N.A.’s holdings in The Cigna Group were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CI. Park National Corp OH boosted its stake in The Cigna Group by 3.4% during the 4th quarter. Park National Corp OH now owns 2,013 shares of the health services provider’s stock worth $556,000 after purchasing an additional 66 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its position in The Cigna Group by 24.1% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 6,412 shares of the health services provider’s stock worth $1,771,000 after acquiring an additional 1,244 shares during the last quarter. Fortem Financial Group LLC grew its stake in The Cigna Group by 3.7% during the 4th quarter. Fortem Financial Group LLC now owns 2,868 shares of the health services provider’s stock valued at $792,000 after acquiring an additional 101 shares in the last quarter. Versant Capital Management Inc raised its holdings in The Cigna Group by 151.7% in the 4th quarter. Versant Capital Management Inc now owns 584 shares of the health services provider’s stock valued at $161,000 after acquiring an additional 352 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $278.77 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $77.54 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. The business has a 50-day moving average of $304.77 and a 200 day moving average of $328.52. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CI shares. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial reduced their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $395.93.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.